Your Daily Dose of Financial News

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SoFi’s Uber turn continues (and it’s not a good thing), as CEO and co-founder Mike Cagney announced plans to step down as CEO and Chair by the end of the year. Cagney and SoFi have both been the subject of toxic workplace culture allegations – NYTimes and WSJ

We talked yesterday about the rise in strength of the yuan. The follow-up article today looks at the return of economic optimism (in spite of a still-scary amount of debt), including a rising stock market – NYTimes

Which is good news for nearly everyone.  But not bitcoin and other cryptocurrencies, which now find themselves shut out entirely from China – WSJ and Bloomberg

Streetwise, let the record show, is NOT on board for HQ2 – WSJ

Fair enough, but it’s tough to argue with Bezos’ Whole Foods plans.  Early info suggests that the early price cuts brought a 25% increase in shoppers to the former Whole Paycheck – Bloomberg

The problem of inflation has bedeviled central bankers for years now.  A Moody’s economist posits that the key may lie in population growth – Moody’s

Frustrated investor plaintiffs will have to wait another 3 months to take depositions in their Forex-rigging suit against the world’s biggest banks – Law360

Its heart was presumably in the right place, but Tesla’s move to remotely enable free software upgrades for Florida drivers to temporarily boost battery power raised some uncomfortable questions about the control that Elon’s company has over its customers’ cars – NYTimes

Equifax’s lobbying for easier regs on credit-reporting company liability in the first half of 2017 isn’t looking so hot right about now – WSJ

More on the debate over bank charters traditionally available to industrial companies spurred recently by fintech companies like SoFi and Square who have chosen ILC charters as their favored means for challenging traditional lenders on their own turf – Law360

A look back at 10 years of iPhone on the day that Apple’s expected to reveal a new version (perhaps dubbed iPhone X) with a monumental price tagNYTimes

MDR

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